SpaceX posts loss in first report as a public company but less than expected
· KRGV (NBC 5)
SpaceX reported a loss of $541 million, or 9 cents per share, in its first quarterly earnings report as a public company, which was less than analysts expected. Revenue surged to $7.8 billion, a 90% increase from last year, driven largely by its Starlink satellite service, which doubled its subscribers to 12 million. Despite a 9% rise in stock during regular trading, shares have dropped significantly since the initial public offering. Concerns remain about high spending on infrastructure and R&D, which rose to $18 billion. SpaceX aims to test Starship's reusability soon, with plans to return astronauts to the moon by 2028.
AI summary · Source: KRGV (NBC 5) →
